The U.S. has a long history of (very) high tax rates. How does 91 percent feel?

AND NOW FOR a history lesson. As Americans prepare their taxes for April, the annual pain begins. It could be worse: For more than half the time the income tax has been around, the top rate on individuals was sky-high by current standards.

This is the 100th anniversary year of the tax law. Between 1932, when Franklin Roosevelt's rhetoric helped push income-tax rates higher, and 1981, when Ronald Reagan's rhetoric helped roll them back, the top rate wasn't south of 70 percent. The high-water mark was 94 percent, during...